With January 31 right around the corner, Dr. Friday reminds business owners and landlords to collect W-9s and file 1099s to avoid costly penalties.
Transcript
G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment.
It’s almost the end of the year. We need to make sure our tax documents are in order. Get ready—if you haven’t already put together your list for subcontractors and 1099s, go ahead and get those W-9s out there.
We need to get those all out by January 31. Now is the time so you can make sure you have W-9s completed, you know the dollar amounts, you have the information.
There are serious fines—$500 for each 1099 you do not issue. So let’s make this year 2026, for the tax year of 2025, the year that we actually file all the proper forms.
And again, this isn’t just for people in business. People in real estate rentals also have to do this. 615-367-0819.
You can catch the Dr. Friday Call-in Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.